India’s Supply chain finance startup CashFlo has raised $8.7 million in funding as part of its second round of capital raise led by General Catalyst.
The funding saw participation from existing investor Elevation Capital. Prominent angels such as Jupiter’s Jitendra Gupta; Pine Labs’ Amrish Rau, Uni’s Nitin Gupta, and Atrium Angels also participated.
Founded in 2018, CashFlo helps businesses automate their core finance processes and manage their cash flows better.
The startup also operates an invoice discounting marketplace helping small and medium enterprises (SMEs) receive working capital against their unpaid invoices.
The startup allows businesses to use their treasury for early payments to their suppliers and earn interest in the process.
It also offers SMEs and corporate partners finance automation tools
The company claims to have a network of 200,000 SMEs and 60 corporates, including ITC, Thermax, and Arvind Textiles, among others.
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